(The following is based on email recd by this news channel)
July 27, 2015
The
President,
The
Institute of Chartered Accountants of India
New
Delhi
Ref: Notice for the meeting of Managing Committee of
Faridabad Branch scheduled to be held on 03-08-2015 to change signatories
to the Bank Accounts of the Branch
Sir,
This
has reference to above, notice duly signed by the Chairman and the Secretary of
Faridabad Branch, for meeting of managing committee scheduled to be held on
03-08-2015 is being forwarded
herewith. From the notice it is clear that they
want to pass the resolution to amend the signatories authorized to operate all
the six bank accounts of the Branch.
In
the meeting of managing committee of the branch held on 10-03-2015 wherein
office bearers of the branch for the year 2015-16 were elected. I was elected
as Treasurer of the Branch unanimously. It was also resolved unanimously that
all the bank accounts shall be operated by the following persons jointly:
1) The Treasurer , and
2) Either the Chairman OR the
Secretary
Now,
as per proposed resolution, they wish to make change that all the bank accounts
shall be operated by following persons jointly :
1) The Chairman , and
2) Either the Secretary OR the
Treasurer
Sir, I would like to emphasis that the proposed resolution
to amend the signatories will be in gross violation of the directions of the
council and will be detrimental to the financial discipline and health of the
branch. Such a decision will also encourage the person sitting on the chair of
CHAIRMAN to run the branch in COMPLETE AUTOCRATIC STYLE without caring for even
the fundamental principles of administration / management.
Sir, I have been signing all the cheques as and when
presented before me for signature except few cheques which were not according
to the settled principles and norms of the Institute.
I
wish to bring to your kind notice few instances which prompted them to amend
the signatories :
1) I disclosed one material fact to
the members which came to my notice while finalization of the accounts for the FY
2014-15, that in FY 2013-14, more than Rs. 14 lacs were paid to two persons in
cash against supply of food. For withdrawal of the cash, majority of the
cheques were signed by the then Chairman and the Secretary. It is pertinent to
mention here that the then branch secretary happens to be the present branch
secretary also. (Copy of relevant ledgers are attached herewith)
2) I also disclosed that in the FY
2013-14, a sum of Rs. 42 lacs was incurred on acquisition of fixed asset
without discussion in the meeting of the managing committee and even without
following due procedure as laid down by the ICAI.
3) I have been raising issue of non
holding of AGM for the FY 2013-14 in-spite of specific direction dated
26-09-2014 of the Institute. Above referred point at para no. 1) and 2)
may be sole reasons for non holding of AGM.
4) I have withheld 4 cheques prepared
in favour of those faculty members who are running their own coaching classes.
The faculty members were engaged by the Branch Chairman and Secretary against
the norms and guidelines of the ICAI and even without any discussion in the
branch managing committee. It is worth mention here that I also sought the
opinion from Board of Studies in the matter and in reply to my query Board of
Studies vide mail dated 7-7-2015 clarified that such persons who are running
their private coaching classes, can’t be engaged as faculty. (Copy of the
same is attached herewith)
5) I did not sign one cheque in
favour of the vendor of furniture from whom the branch chairman and secretary
want to purchase furniture without following due procedure which was duly
explained to the Chairman and other managing committee members vide mail dated
17-06-2015. (Copy of the communication attached herewith)
6) The Chairman denied reimbursement
of Rs. 17,25,000/- used in the Building earlier, against specific direction of
the Infrastructure Development Committee dated 03-07-2017 (Copy of the
mail dated 03-07-2015 attached)
7) The chairman wanted to make
payment to one of the creditors of the Branch Building M/s Technopam Industries
in violation of the mail of the Infrastructure Development Committee of the
ICAI dated 03-07-2015. (Copy of the mail is attached herewith)
8) The Chairman also wanted to make
payment to M/s Technopam Industries against a bill dated 10-01-2014 (pertaining
to FY 2013-14) for Rs. 32,869/- which have never been entered in the books of
that year nor authorized by any person. (Copy of the same bill with duly
approved voucher by the Chairman is attached)
9) As happened in the previous years,
the branch Chairman wanted to spend funds of the branch on some non CPE or
cultural programs and he considers the undersigned as an obstacle in his way.
10) Current year being the election year for Central
Council and NIRC, the branch Chairman wants to spend funds of the branch to
promote the candidates of his liking and he considers the undersigned as an
obstacle in his way.
11) I brought to the notice of other members of the
managing committee about irregularities in the branch to be discussed in the
managing committee. (Copy of the mail dated 17-6-2015 and 19-07-2015)
Sir, if the branch is allowed to pass such a resolution, it
will result in to centralization of financial powers to the Chairman and office
bearers of his liking only. In such situation position of Treasurer and other
office bearers will become useless.
Sir, you are sitting at a highest position of the
profession. You are supreme trustee of the image of the Institute. I have been
elected as treasurer of the branch unanimously by all the members of the
managing committee. I have been performing all my duties with due
compliance of the guidelines of the Institute but not supporting misdeeds of
the chairman. This is the main reason they want to withdraw my
powers.
Sir, I understand that recently Managing Committee of
the Institute has relaxed the settled norms of the Executive Committee
of the Institute to move such a resolution to change the signatories of the
bank accounts without providing opportunity to the treasurer of the branch is
in gross violation of principles of natural justice and ethics of our
profession. Such a one sided act from the persons sitting at the helm of
the affairs was not expected at all. Such an act will lose confidence of the
members at large in the Council.
Your Honor is therefore requested to withdraw the
relaxation granted to Faridabad Branch against settled norms of the Institute
for change the signatories to the bank accounts.
Sir, I am writing this mail to you with high hope of
justice. Any injustice on the part of your Honor may force me to proceed
further for appropriate course of action.
With warm regards,
CA D C GARG
Treasurer, Faridabad Branch of NIRC of ICAI
Attachments :
1. Copy of ledgers for payment
of Rs. 14 lacs in cash against supply of food
2. Copy of mail dated
07-07-2015 received from Board of Studies, ICAI
3. Copy of communication dated
17-06-2015
4. Copy of the mail dated
03-07-2015 received from Infrastructure Development Committee, ICAI
5. Copy of bill dated
10-01-2014 of M/s Technopam Industries alongwith voucher duly signed by the
Chairman
6. Copy of Cheque signed by the
Chairman in favour of Technopam Industries
7. Copy of Cheque signed by the
Chairman in favour of Marz Contracts Pvt Ltd for Rs. 15 lacs against liability
of
Copy to :
1. The Vice
President, ICAI
2. The Acting
Secretary, ICAI
3. All Central
Council Members, ICAI
4. All
Members, NIRC
5. All
Members, Managing Committee of Faridabad Branch
6.
All members of Faridabad
__._,_.___
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